Breaking news

RBA Governor remains upbeat

Reserve Bank Governor remains upbeatReserve Bank speechThe Reserve Bank Governor Philip Lowe delivered a speech in Adelaide last night.Key pointsStatement on Monetary Policy: Governor Lowe flagged changes to the format of the report to “make the report more thematic”.Forecasts: “The latest forecasts should not contain any surprises, with only small changes from the previous set…

Qantas orders six more Dreamliner planes as jumbo bows out

Australian national carrier Qantas on Wednesday ordered six Dreamliner planes from aviation giant Boeing to replace the last of its ageing jumbo jets, which have been a staple of the firm’s fleet since 1971.The deal, worth US$1.7 billion at list prices, comes as Qantas looks to build up its supply of 787-9 jets, which are…

Pfizer questioned on growth after sluggish Q1 sales

Pfizer reported higher profits on Tuesday but minimal revenue growth, reviving questions about whether it will seek a large acquisition to spur growth.Pfizer, the world’s biggest pharmaceutical company by revenue, reported a 14.1 percent rise in first-quarter net profit to $3.6 billion.But revenues lagged analyst expectations after edging up 1.0 percent to $12.9 billion.Chief Executive…

Britain demands overseas tax havens open up

Britain’s overseas territories will be required to publicly reveal who ultimately owns the companies registered there after the government on Tuesday bowed to MPs’ demands to improve transparency in tax havens.Territories such as the Cayman Islands, the British Virgin Islands and the Turks and Caicos will have until December 31, 2020 to create public registers…

Dollar holds gains ahead of Fed decision, Asia markets struggle

The dollar on Wednesday maintained most of its recent gains ahead of a key Federal Reserve policy announcement, while Asian equity markets struggled to gain traction as investors returned from public holidays across the region.Technology firms enjoyed healthy gains after Apple released better-than-expected earnings that soothed worries about iPhone sales, and oil prices inched slightly…

Uneasy Wall Street ends mixed; London closes up

Wall Street had a split finish on Tuesday, with the benchmark Dow extending losses amid further signs of unease among investors over trade tensions and inflation.Meanwhile, London and Tokyo rose in quiet trading as most world indices were closed due to public holidays around the globe.A mix of worries held Wall Street down as the…

California leads coalition against new car emissions standards

A coalition of 18 US states on Tuesday sued President Donald Trump’s administration over plans to roll back vehicle emissions standards. The suit, which was led by California, seeks to protect standards passed under Trump’s predecessor Barack Obama that would raise fuel efficiency to about 50 miles per gallon by 2025.‘The states joining today’s lawsuit represent…

Brexit prompts UK to probe developing satellite navigation system

Britain will explore developing and launching its own satellite navigation system, Downing Street announced on Tuesday, amid doubt over its future inclusion in a key European project after Brexit.Prime Minister Theresa May has created a taskforce of engineering and aerospace experts led by the UK Space Agency ‘to develop options for a British Global Navigation…

Trump’s tariff decision shows EU’s strategic weight: analysts

President Donald Trump’s decision this week to shield the European Union from steel and aluminum tariffs for another 30 days is a sign of the economic bloc’s importance as Washington enters thorny trade talks with Beijing, analysts say.The White House late Monday announced Trump was extending the exemptions from punishing metals tariffs for Canada, Mexico…

US hopeful about China talks to resolve trade dispute

Senior US officials are due to travel to Beijing on Tuesday to hold talks on resolving an escalating trade dispute and they say they are hopeful of finding a solution but warn the issues are complex.If they fail to agree on a course of action to protect intellectual property rights from depredation, US punitive tariffs…